Great Western Mining Corporation PLC (AIM:GWMO) said assay results of historic tailings material from the abandoned OMCO mine, situated on the Olympic gold project, exceeded its expectations.
"The independent assay results of this large volume of pre-mined material are far ahead of our expectations and an important milestone in establishing the basis for a commercial processing operation on a much larger scale than envisaged at Mineral Jackpot alone,” said chairman Brian Hall.
“We are carefully reviewing processing options, including contained cyanide leaching, and looking at the potential economies of creating a combined facility for the processing of OMCO tailings and the spoil material from the Mineral Jackpot claims.”
Twelve drill holes intersected elevated gold grades throughout the OMCO tailings heaps, with 67 individual assays showing average grades of 1.25 grammes a tonne (g/t). The grades ranged from 0.17 g/t to 3.76 g/t.
The company operates under an option-to-purchase agreement at the Olympic project in Mineral County, Nevada.